Conceptual Framework

Real world companies often face transactions or events longer than one period of account. This could be the case when a company renders longer services to its clients – such as building of ship or construction works at a large site and any other, let’s call them – long-term services. Any service that commences in one reporting period and ends in another, following period could be defined as a long-term service. These are not only service with large scope or…Read More